Say YES to Financial Planning

Kampar, July 28 - Do you ever feel that it is hard to keep some saving even though you have high salary every month? Your finance is getting out of your control when your liability is more than your asset. Situation like this may happen if you do not have proper financial planning.

The Banking& Finance Society of Universiti Tunku Abdul Rahman organised an event named “The Pioneers’ Financial Board Game” collaborated with the Passion to Action Group from Prudential Assurance Malaysia Berhad. It is a board game which helps students in developing, thinking and understanding about financial literacy.

While most of the youngsters are losing control in their finances, financial planning is the best way to keep their finances under control. With the help of financial planning, youngsters can establish their gaol and work out what assets and liabilities they have. After they evaluate their current financial position, they can start to develop and implement their plan and finally they can gain control and peace in their finance.

Shelly (24), secretary of Passion to Action Group, said that graduates nowadays used to spend their money without planning, which is the most dangerous action that leads to bankruptcy.

“Graduates should know about financial planning as it helps you to make sensible decisions about money and will help you to achieve your goal at the same time,” said Shelly.

The game is very easy to play where it just need a pen, a dice and financial form that filled with recurring income and investment value.

Students will fill in the value that they want to invest and they will roll the dice according to the scenario that set by the organiser. Students are able to learn on how to invest when they have basic fundamental and they will understand that there is always difficulties happen due to uncertainty audition.

“I get a clear picture of financial planning throughout this game,” said Chung Fei(21), who won in the financial planning board game.

“I’m kind of mess up during the game but luckily I still manage to get a surplus at the end of the game; I will join again if the event will be organise again in next semester,” said Chung Fei.

There are people happy and enjoy the game when they manage to get the surplus while there are still some people who get a shock when they fail in their financial planning game.

“I’m shock when I get a negative RM1000 (deficit) at the end of the game,” said Neoh May Ying (21).

“Although it hurts my feeling but I learnt a lot from this game where we have to think and consider seriously when it comes to investment; never invest when you do not have enough money,” said Neoh.

#financialboardgame #Bankingfinancesociety #UTAR #financialplanning